The Goldman Sachs Group Cuts StoneCo (NASDAQ:STNE) Price Target to $15.00

StoneCo (NASDAQ:STNE) had its target price reduced by The Goldman Sachs Group from $21.00 to $15.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

STNE has been the subject of several other reports. Susquehanna reduced their price objective on StoneCo from $23.00 to $22.00 and set a positive rating for the company in a report on Friday, April 19th. JPMorgan Chase & Co. raised StoneCo from a neutral rating to an overweight rating and set a $20.00 price objective for the company in a report on Thursday, June 6th. Barclays cut their price target on StoneCo from $17.00 to $16.00 and set an equal weight rating for the company in a report on Monday, May 20th. Evercore ISI cut their price target on StoneCo from $25.00 to $23.00 and set an outperform rating for the company in a report on Tuesday. Finally, Citigroup boosted their price target on StoneCo from $19.00 to $20.00 and gave the stock a buy rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $19.56.

StoneCo Stock Down 0.7 %

StoneCo stock opened at $11.99 on Wednesday. The stock’s 50 day moving average price is $14.23 and its 200 day moving average price is $16.08. The company has a market cap of $3.77 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.31 and a beta of 2.36. StoneCo has a 1-year low of $9.34 and a 1-year high of $19.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.36 and a quick ratio of 1.36.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $623.12 million during the quarter, compared to analysts’ expectations of $633.35 million. StoneCo had a return on equity of 12.35% and a net margin of 14.08%. On average, sell-side analysts predict that StoneCo will post 1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On StoneCo

A number of hedge funds and other institutional investors have recently made changes to their positions in STNE. Norges Bank purchased a new stake in shares of StoneCo in the fourth quarter valued at $58,777,000. Lord Abbett & CO. LLC purchased a new stake in shares of StoneCo in the first quarter valued at $33,139,000. Constellation Investimentos e Participacoes Ltda purchased a new stake in shares of StoneCo in the first quarter valued at $24,712,000. Azora Capital LP purchased a new stake in shares of StoneCo in the fourth quarter valued at $18,458,000. Finally, BW Gestao de Investimentos Ltda. grew its position in shares of StoneCo by 262.2% in the first quarter. BW Gestao de Investimentos Ltda. now owns 1,230,000 shares of the company’s stock valued at $20,430,000 after purchasing an additional 890,442 shares during the period. Hedge funds and other institutional investors own 73.19% of the company’s stock.

About StoneCo

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.